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Plato Ltd. is considering one of two different projects. Cash flow data for these projects...

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Accounting

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Plato Ltd. is considering one of two different projects. Cash flow data for these projects are as follows: Year Project CR Project DR 0 $(61,250) $(100,000) 1 22,000 15,000 2 32,000 40,250 3 4,750 46,750 4 10,000 11,000 Assuming the company's objective is to minimize the payback period, what is the payback period of the project that should be accepted? Input your answer as a number with two decimal places (for example, 1.23)

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